Modern Monetary Theory is something so simple yet so complex all at the same time, it does really involve divorcing your mind from how you personally interact with money to ultimately grasp how cash works at an economy wide level. A lot of supporters of the theory push it as a cure all to any economic ailements, and you know what with the money printers firing away like they are right now we may finally get a chance to find out if they are correct, but in reality it’s not a prescription to fix a broken economy as much as it is an insight into how modern economies work.
#stimulus #moneyprinter #recession
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References -
Luther, W.J., 2018. Is bitcoin intrinsically worthless?. AIER Sound Money Project Working Paper
Duffy, J. and Ochs, J., 2002. Intrinsically worthless objects as media of exchange: Experimental evidence. International Economic Review
Ritter, J.A., 1995. The transition from barter to fiat money. The American Economic Review
McCabe, K.A., 1989. Fiat money as a store of value in an experimental market. Journal of Economic Behavior & Organization
Palley, T.I., 2015. Money, fiscal policy, and interest rates: A critique of Modern Monetary Theory. Review of Political Economy
Visser, H., 1991. Modern monetary theory
Tsiang, S.C., 1989. The monetary theoretic foundation of the modern monetary approach to the balance of payments. In Finance Constraints and the Theory of Money
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